The chairman of Vodacom Group, Jabu Moleketi, will step down from the board and retire on July 21, the telecoms firm said on Friday.

Saki Macozoma, who is now lead independent non-executive director, will take over from Moleketi from July 22, Vodacom said in a statement. He was appointed to the board in 2017.

Moleketi, 62, a former deputy finance minister, was appointed to the Vodacom Group board in 2009 and appointed chairman in 2017, replacing Peter Moyo.

He is chairman of investment firm Brait SE and cement firm PPC and has served on several boards, including the Development Bank of Southern Africa, Remgro and Nedbank Group.

Macozoma's lead independent non-executive director role will be taken up by David Brown, the company said.